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MY HUSBAND OPENED AN LLC WITH AN EQUAL MANAGER/MEMBER

Customer Question

MY HUSBAND OPENED AN...

MY HUSBAND OPENED AN LLC WITH AN EQUAL MANAGER/MEMBER (50/50) ONE PARTNER OPENED THE LLC BANK ACCOUNT WITHOUT KNOWLEDGE OF THE OTHER PARTNER. THE NATIONAL BANK REFUSED REPEATEDLY TO ADD THE OTHER MEMBER TO THE LLC BUSINESS CHECKING ACCOUNT EVEN THOUGH HE PRESENTED THE LLC PAPERWORK TO THE BANK STAFF. THE MEMBER THAT WAS LEFT OFF OF THE ACCOUNT IS THE MEMBER THAT MADE THE FINANCIAL INVESTMENT IN THE LLC. OVER $350,000.00 HAS CLEARED THE ACCOUNT AND THE BANK HAS CONTINUED TO ADD THE OTHER MEMBER OF THE LLC. CAN THE BANK BE HELD ACCOUNTABLE FOR FINANCIAL DAMAGES?

Lawyer's Assistant: Can you tell me what state the LLC is registered in?

TEXAS

Lawyer's Assistant: Has anything been officially filed? If so, what?

THE LLC HAS BEEN FILED. I ALSO HAVE A COPY OF THE LIMITED LIABILITY BANKING RESOLUTION FROM THE BANK. IT HAS BOTH MEMBERS LISTED AS EQUAL. ONLY ONE MEMBER OPENED THE ACCOUNT

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

THE PARTNER THAT WAS NOT ALLOWED ON THE ACCOUNT IS THE ONE THAT MADE THE FINANCIAL INVESTMENT AND HAS NOW HAD TO FILE BANKRUPTCY. THE OTHER MEMBER

That is a very strange situation, because Banks are extremely careful when they deal with LLCs. They should have required a resolution from the company designating who was authorized to open banking accounts, and issue checks. Your situation is certainly worth hiring an attorney to investigate the matter. I hope that this answer was helpful and that you will enter a positive rating. Thanks for using Just Answer.

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Customer reply replied 10 months ago

I attempted on several occasions to be added to the account with my paperwork for the LLC in hand. I was turned away repeatedly. Finally I filled with the FDIC who forwarded the information to the OCC, the bank sent me a letter stating that I had only attempted one time to be put on the account (this is not true, I tried many times) the letter also states they consider the matter closed. They said that they had closed the account the day after my last attempt to be added to the account. I contacted to OCC they said the case was very much still open. I also had a friend try to make a deposit to that account. The teller left her window with check in had, then returned and stated "there is a lot going on with this account right now so I can't make this deposit at this time"I have paper work that may be helpful to you. What kind of attorney do I need? Can you help me find an attorney? I am not sure if I mentioned this has put me in bankruptcy.

The lawyer that you need is one who specializes in commercial litigation, and particularly vs bank regulation. Unfortunately, these lawyers are usually found in big law firms and their services are quite expensive. You can Google search for lawyers in your specific Texas City. Go on Martindale Nolospecify a search for commercial litigation, IE lawsuits. You will have to post a short statement of what your case is about, and you should get contacted by at least one attorney

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).